HTC’s profits dropped 98% year-on-year, reports Bloomberg, with first-quarter results of just $2.8 million. HTC had been planning to launch the HTC One last month, but shortage of camera components forced a delay, with the handset now expected to launch later this month.

The choice of HTC for the first ‘Facebook phone’ and anticipated profits from the delayed HTC One may explain the relatively small hit to the company’s share price.